Great breakdown of Bonus depreciation for RE.

My father would be willing to help us out in basically any way that he could, in exchange for modest monthly payments going forward, and is content limiting his capital gains exposure with the owner financing. 

Is it possible to take advantage of the bonus depreciation if buying multiple STR properties with a business partner?

@John Ki Passively investing in real estate syndications is a great way to get exposure to real estate investing for those who don't have the time or knowledge needed to actively buy real estate.  

The downstairs tenant also has another floor available, bonus room in the finished basement, which might help with noise between tenants as well.

They are more or less the same thing but the key difference is the leverage and exposure limits.

Bonus* Time & Money: Investments are borrowed time.

@Nikhil MascarenhasWhat's your exposure like? 

You'll still owe taxes on the depreciation taken during the time it was a rental, typically at a marginal tax for bonus dep recapture.

I would recommend negotiating performance-based bonuses rather than commissions, ensuring that their focus aligns with your revenue strategy.Given that you are looking to expand your property with an in-house store and unique theme, a property manager focused on tailored guest experiences rather than just bookings would be more beneficial.